Frequently Asked Questions (FAQs)
1. Who can avail financing from BOP?
Any individual( should be aged 18 years and above) or business concern (Manufacturing ,Trading & Service sectors) and it can be an Individual/ Sole proprietor / Association of persons(AOP)/ Partnership concern and all other legal entities
2. What kind of security does the bank require from the applicant/borrower?
- Residential/Commercial/Industrial property
- Hypothecation of Stocks ,Receivables ,Plant & Machinery
- LCY/FCY Deposits
- Gold Bullion/Ornaments
- Government Securities e.g. DSCs, SSCs, RICs etc
- Personal Guarantee of Sponsors / Mortgagors / Others
- Any other security acceptable to bank
3. What is the minimum length of experience required in same line of business?
At least 03 years, however new entities are considered on case to case basis
4. What are the documents required to apply for financing facility?
Initial documents to be obtained as per the constitution type of the borrower and type of loan which may include
- Duly signed Request letter/ loan application form
- Attested copies of property documents
- Complete business profile
- Attested copies of CNICs of sponsors (individual, proprietors ,partners or directors)
- Last Three years financials
- Board Resolution of company
- Proof of Income /business
- NTN Certificate
- Projected Cash Flows
- Any other documents may be required at the time of processing of loan
5. Can a loan facility be transferred/Swap from other Bank?
Yes, subject to fulfillment of BOP’s criteria
6. How long does it take to process a loan application?
After submission of required complete documents/information, it will usually take between 25 to 30 working days
7. What is the mark up/ pricing for the facilities & penalties?
Market competitive pricing will be offered. However penalties are charged on the late/delayed payments as per bank’s policy & prevailing SOC.
8. For Submission of application for obtaining loan facility, where should I visit?
Visit any nearest BOP branch where our Branch Manager/Relationship Manager will assist you in this regard.